Halter Ferguson Financial Inc. Buys 250,621 Shares of Unusual Machines, Inc. $UMAC

Key Points

• Halter Ferguson Financial increased its Unusual Machines stake by 16.4%, buying 250,621 shares to reach 1.78 million shares, or approximately 3.57% of the company valued at $43.6 million.
• Several institutional investors initiated or expanded positions, while company insiders sold 48,538 shares worth about $1.26 million over the past 90 days through pre-arranged Rule 10b5-1 plans.
• Analysts maintain a favorable outlook, with all six covering firms rating UMAC a Buy and an average price target of $37; the company recently reported $16.72 million in quarterly revenue and an adjusted loss of $0.16 per share.

Halter Ferguson Financial Inc. boosted its position in Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Free Report) by 16.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,782,969 shares of the company's stock after acquiring an additional 250,621 shares during the quarter. Unusual Machines accounts for approximately 7.6% of Halter Ferguson Financial Inc.'s portfolio, making the stock its 5th largest holding. Halter Ferguson Financial Inc. owned about 3.57% of Unusual Machines worth $43,647,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Wasatch Advisors LP bought a new stake in Unusual Machines during the second quarter worth about $8,087,000. Squarepoint Ops LLC purchased a new position in shares of Unusual Machines in the 2nd quarter worth about $4,872,000. Bank of New York Mellon Corp purchased a new position in shares of Unusual Machines in the 2nd quarter worth about $2,999,000. Yorkville Advisors Global LP purchased a new position in shares of Unusual Machines in the 1st quarter worth about $1,692,000. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Unusual Machines during the 2nd quarter valued at about $1,446,000.

Insider Buying and Selling at Unusual Machines

In other news, CRO Stacy Rochelle Wright sold 27,500 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $26.00, for a total value of $715,000.00. Following the transaction, the executive owned 68,750 shares in the company, valued at approximately $1,787,500. This trade represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Andrew Ross Camden sold 9,625 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $26.01, for a total transaction of $250,346.25. Following the completion of the transaction, the president owned 237,125 shares in the company, valued at $6,167,621.25. This represents a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 48,538 shares of company stock worth $1,262,198. 4.87% of the stock is currently owned by insiders.

Unusual Machines Price Performance

NYSEAMERICAN UMAC opened at $16.98 on Thursday. Unusual Machines, Inc. has a 1-year low of $7.24 and a 1-year high of $34.93. The stock has a 50-day moving average of $23.32 and a 200-day moving average of $20.95.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). The company had revenue of $16.72 million during the quarter, compared to analysts' expectations of $9.20 million. Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%. As a group, equities research analysts forecast that Unusual Machines, Inc. will post -0.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UMAC. ThinkEquity reissued a "buy" rating on shares of Unusual Machines in a report on Monday, August 17th. Needham & Company LLC restated a "buy" rating and issued a $40.00 target price on shares of Unusual Machines in a research report on Wednesday, October 7th. National Bank Financial set a $42.00 target price on Unusual Machines in a research note on Wednesday, July 15th. HC Wainwright initiated coverage on Unusual Machines in a research note on Wednesday, July 15th. They issued a "buy" rating and a $42.00 target price for the company. Finally, Piper Sandler started coverage on shares of Unusual Machines in a research report on Wednesday, August 12th. They set an "overweight" rating and a $38.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $37.00.

Unusual Machines Profile

Unusual Machines, Inc develops, manufactures and sells unmanned aircraft systems and components, with a focus on first-person-view (FPV) drones. Its product offerings include complete drones, motors, propellers, frames, flight controllers and other replacement parts used by recreational pilots, commercial operators and drone builders.

The company also markets FPV-related electronics and accessories, including video equipment and goggles. Its portfolio has included the Rotor Riot and Fat Shark brands, which are associated with FPV drones, pilot content and immersive flight products.

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